Obama seeks $1.2 trillion debt-limit hike

Lawmakers have 15 days within receiving request to vote down increase

Published: 12/27/2011 at 11:46 PM

(REUTERS) – The White House plans to ask Congress by the end of the week for an increase in the government’s debt ceiling to allow the United States to pay its bills on time, according to a senior Treasury Department official on Tuesday.

The approval is expected to go through without a challenge, given that Congress is in recess until later in January and the request is in line with an agreement to keep the U.S. government funded into 2013.